Some third parties have received two cross-boundary payment licences

The central bank's cross-border renminbi payment business for third party payment agencies landed February 18, but the relevant details have not yet been released. According to people familiar with the 21st century Economic report, the central bank will be issued specific rules to the relevant institutions. According to industry sources, the central bank's Shanghai headquarters, "on the implementation of the Shanghai municipal payment agencies to carry out cross-border renminbi payment business," provisions, in Shanghai and Shanghai FTA registered in the area of payment agencies, as well as in Shanghai outside the establishment of payment agencies in the FTA set up branch offices, As long as has the Internet Payment business license, the wind control ability is strong, has not occurred the serious irregularity in the last two years, may carry out the Cross-border renminbi payment business. This means that there are currently more than 40 payment agencies with internet payment licences in Shanghai, which are eligible to participate. The threshold is lower than the first batch of Cross-border payment pilot licences issued by the National Exchange office last year.　Sun Fuqing, deputy director of Shanghai Municipal Government Development Research Center, said earlier in the Shanghai Financial Information Services Forum that the construction of the FTA will form a huge demand for cross-border payment settlement, which will usher in a blowout-type development in the short term. Or will replace the letter of credit fast Money company and Taiwan's trade network signed a cross-border electronic commerce renminbi payment business agreement, and on 18th, launched the first real time transactions. Fast Money analog import enterprises, on the spot from Taiwan ordered 140,000 yuan of fruit. Lian, general manager of Taiwan's GATT network, said 90% of the trade process could be transferred to the line, saving half of trade time. In particular, after obtaining a cross-border renminbi payment licence, the buyer may make payment through a third party payment agency, and the trade NET provides the transaction electronic document for the third party payment institution to approve the exchange by the foreign exchange authority as the basis for the settlement, and then the transaction will be paid by the trade network on behalf of the net transaction to the Taiwan seller's account--t+ It can be completed within 3rd, up to 10 days before. For the fruit and so on the requirements of high freshness products, trade time is naturally shorter the better. Take the fast money and Taiwan's trade-related network E-commerce Platform for example, whether it is a business-to-business model or the business model, the entire process of cross-border trade has been realized electronically. From Merchant merchandise display, trade matchmaking, to the online contract and electronic document preparation, fund trusteeship, as well as the final payment settlement, customs clearance delivery, can realize the whole process paperless pure electronic Cross-border import and export transactions, shorten the transaction and settlement cycle. Guoguang, Chairman and CEO of the fast-money company, said fast money and Taiwan's trade relations between the two sides of the network in accordance with the terms of trade, the implementation of the full payment or phased out, the transaction of funds from the fast money and platform for security, loan settlement to the actual customs clearance of goods on the basis of the real protection of the interests of buyers and sellers.　That is to say, the transaction amount of the buyer and seller is guaranteed by the third party payment institution and platform, and the loan is based on the actual customs clearance, and some of the traditional international trade will be replaced by the paper L/C with the dollar as the standard. Two Cross-border payment licences the third party payment agencies in Shanghai have also been approved to commence cross-border renminbi payment operationsResponsible for the 21st century Economic report that the payment agencies to start the Cross-border renminbi payment for financial support of the construction of the FTA and the internationalization of the renminbi is a kind of promotion, the company has cooperated with the banks, merchants and other preparatory preparations, will follow the central bank deployment to launch the next step. In fact, as early as last October, 17 third-party payment agencies, including the world of remittance payments, were awarded the first cross-boundary payment pilot licences issued by the State administration of foreign exchange. The biggest difference between this and the end of last year's cross border foreign exchange payment pilot licence is that it was settled in foreign currency and is now settled directly in renminbi. The pilot licence for Cross-border payments was issued by the State Administration, which was issued by the Central bank for the cross-border payment of renminbi. Future Cross-border payments If more use of renminbi settlement, will promote the internationalization of the renminbi process. The relevant person in charge of the world 19th said to the 21st century Economic report. In addition, the Board has restrictions on the amount of payments and areas, such as a single cross-border payment limit of 50,000 U.S. dollars, while the first pilot selected only air tickets, hotels, study abroad, goods trade and other seven major business areas. The central bank's open cross-border renminbi payments have no limits on the amount and scope of payments. It is worth mentioning that the pilot licence for the AA does not necessarily mean that a formal cross-border payment licence will be obtained. Not direct licensing, all 17 are pilot. The General Administration said that it does not rule out the pilot six months of bad control does not license. The head of a pay agency said. And, compared with the relatively loose entry threshold of the central bank at the beginning of this article, the experience of getting an AA licence has been rather difficult. According to the above-mentioned responsible person recalls, from the first meeting in March 2013, to July 10 payment institutions 15 minutes of on-site defense, and then to September Shanghai Foreign Exchange Bureau on-site investigation of all payment agencies, coupled with the repeated communication until October 11, only a total of 17 companies formally received a pilot licence for cross-boundary payments.